The End of the Dollar – Sound Money Campaign
Published on Mar 16, 2013 by Sound Money Campaign
The US Government unchained the US Dollar from the Price of Gold in 1971. The impact of this action can be seen by comparing the value of the dollar over time. The following comparisons of inflation, which is the representation of the value of the dollar over time, helps to illustrate the dramatic changes in what a dollar of yesterday will buy today. We begin by comparing the value of a chained dollar (1965) to the value of the dollar in the year that the dollar was unchained from the gold standard (1971.) Further, we compare other dates to both the 1965 and the 1971 value of the dollar to further show how inflation has grown after the dollar was unchained from the gold standard.